Sacramento home prices show stability in May
The Sacramento housing market could become a more popular and valuable investment in the future. Recent data indicates the city's housing market is gaining momentum, as more people are considering the homes for sale in Sacramento.
According to Hispanic Business, a new report from DataQuick shows that the price of Placer County homes increased 8 percent between May 2011 and May 2012 to $275,000. Additionally, there has been a reduction in the sale of foreclosed properties, as 39 percent of last month's sales included foreclosed homes, the news outlet notes. These statistics reflect that the Sacramento's housing market is displaying economic stability, which could help make it appealing to home buyers in the future.
"It is a big deal psychologically and statistically," DataQuick analyst Andrew Le-Page told the news source.
The city's unemployment rate continues to fall, which further reflects the city's improving economy. In the Sacramento-Arden-Arcade-Roseville, California, metro area, the unemployment rate has dropped from 11.3 to 10.5 percent from January 2012 to April 2012, the U.S. Bureau of Labor Statistics reports. This is just one of the economic factors that might help draw more people to the area and enhance home values in the city.